How adoption will happen

[AppliedOptimal]

How are you defining 'adoption' here?  Because I can think of a few ways bitcoin could be adopted by the masses.  One is by the common man like you and me, which would mean using bitcoin as a currency in lieu of fiat--or at least using it for transactions more than it's being used right now.  Another is adoption by big institutions where they either make it a payment option for their customers or, in the case of financial institutions like banks, they invest in it.

If mass adoption happens, I think it'll be at the institutional level.  I think banks will eventually get involved, as will traditional brokerage firms, but I think that can only happen if bitcoin's price continues to rise and people stay interested in it--both of which I think are probable.  Then we'll probably see more merchants start to offer bitcoin as a method of payment. 

The real question I have is whether more people are going to start buying bitcoin either as an investment or to spend--and I've had that doubt lingering in my mind ever since I got into crypto.  Fiat would have to become seriously devalued for that to happen, and I don't think that's going to happen worldwide.  Even in Venezuela, where their fiat is worthless, they're just using US dollars more so than bitcoin.  But I'm still optimistic.  Adoption will happen eventually.

I think bitcoin will creep up to be used, trickling itself into the economy, as opposed to a big boom like you suggested.
It will slowly gain more users, and these users will collect bitcoin as a store of value, and spend whatever coin they think is worth to spend to buy things. So, as the old saying goes, bitcoin is like the earth, and all the other coins or tokens are like the seeds.

[blueteam09]

Is it going to start with poor countries and their dictators?
Is it going to start in the USA with their SEC and ETF and everything?
Discuss.

Adoption happen started in online store or merchant. If want adoptin in offline merchant, need government regulation and i think its need more time. Its more easier for online merchant to receive crypto and i am believe this will happen in near future

It will happen soon because many governments already think about crypto and once they approved crypto as an alternative currency for payment methods, we will see crypto will grow, and the adoption will start fast.
Right now, we see adoption is already happening in any country. Many people now realize that crypto can be a solution for the payment transaction and they see that the crypto can give a new way to make money too.

Just like what you are referring to when Bitcoin was release through the ETF (SEC), there will be many countries claiming to accept and support Bitcoin and Cryptocurrency development. Many countries are seeking access to Bitcoin, but it has not received and approved by an international organization, so the governments of these countries are waiting for Bitcoin to approve the draft ETF.

[Hardtolife]

Is it going to start with poor countries and their dictators?
Is it going to start in the USA with their SEC and ETF and everything?
Discuss.

In my opinion, anyone can adopt it and I strongly agree that poor countries will convert it because they can make these countries better than before.
And maybe the SEC and ETF will start in the US or take a long time. moreover, we have used technology, maybe we will be faster than the US.

[angel55]

There will be a point when bitcoin is so widely used that places like Amazon and Ebay will be forced to accept it or they will lose out on a lot of potential customers.  The biggest obstacle to full adoption is scalability but hopefully lightning network will be able to put those fears to rest.

[AppliedOptimal]

Gold is very cheap right now because the futures market lowered their prices and the same futures market is lowering bitcoin prices. Lowering prices decreases the public's interest in bitcoin because let's be honest, everyone is interested in becoming rich!
You know how they say bitcoin is rat poison? I think futures are rat poison against adoption because you do not have to purchase real bitcoin, they are mostly cash settled.

[Dart18]

Pride will take place.
Rich countries will not adopt it. Why? It will be like stepping in their own fiat currency. Who wants people to have freedom in their monetary system?
Government wont let that happen. Better to just use gold instead of using crypto currencies with so much privacy.

Who will push this kind of act though. It must go through lots of paperwork, orders and constitutions. It will be a hard fight. Let us just be happy Japan made it happen and hope they will try to absorb it too.

[serjent05]

Interesting to see how far bitcoin had been adopted and I wonder where are we right now:)  But one thing for sure adoption does not start with the option given by OP.  It starts within the people that believes on the technology.  It starts with the so called innovators then from them it spreads out through their hard effort.  Countries and government leaders and institution simply follows since they tend to push away anything they do not understand or does not goes with their standards.

Pride will take place.

It will but they will be find themselves being left behind.

Rich countries will not adopt it. Why? It will be like stepping in their own fiat currency. Who wants people to have freedom in their monetary system?

Some are already welcoming Bitcoin and blockchain technology
https://news.bitcoin.com/worlds-top-10-bitcoin-friendly-countries/

Government wont let that happen. Better to just use gold instead of using crypto currencies with so much privacy.

It seems they took noticed and wanted to regulate it just to have the pie of the profit .  In this case they will let it operate.
https://blockonomi.com/bitcoin-regulation/

Who will push this kind of act though. It must go through lots of paperwork, orders and constitutions. It will be a hard fight.

Government representatives that believes in Technology

https://www.coindesk.com/7-politicians-in-support-of-bitcoin-and-blockchain-tech

[Sled]

There will be a point when bitcoin is so widely used that places like Amazon and Ebay will be forced to accept it or they will lose out on a lot of potential customers.  The biggest obstacle to full adoption is scalability but hopefully lightning network will be able to put those fears to rest.

It is not the stability we meant to be the problem of its adoption but for us who we're the one to adopt the system. We we think positive to this market and feels that it could help us in the future, then we can be sure that it will be easy for us to the switch into crypto. But somehow, we have that negatives in our mind and could bring us trouble.

[bettercrypto]

Is it going to start with poor countries and their dictators?
Is it going to start in the USA with their SEC and ETF and everything?
Discuss.

Adoption will happen whether you like it or not. It might begin with the big abd developed countries because they have already utilized the technology as well as cryptocurrency. However, it will become hard for the poor countries to adopt it because of the limited knowledge when it comes in technology. That is why globalization creates an endless development in every countries.

[Pamadar]

There will be a point when bitcoin is so widely used that places like Amazon and Ebay will be forced to accept it or they will lose out on a lot of potential customers.  The biggest obstacle to full adoption is scalability but hopefully lightning network will be able to put those fears to rest.

Good example, those businesses will be aware that if time comes and the mainstream societies start to use this chain they will fully need to start using this system, no matter what adoptions will happen and will provide good outcome for those who invested time and money.

[Mihaylovic]

Is it going to start with poor countries and their dictators?
Is it going to start in the USA with their SEC and ETF and everything?
Discuss.

i dont think that adoption will start from poor countries. because poor countries do not have enough opportunity to check learn and use the blockchain technology. I think the first adoptions will be started from developped countries.

[btccrusher]

It's not going to happen anytime soon, the SEC won't pass it anyway. But don't worry, adoption is almost here, I myself do almost over 50 percent of my spending in crypto each month, so I assume as soon more business will accept crypto, the adoption will happen in a maximum growth rate.

[serjent05]

Is it going to start with poor countries and their dictators?
Is it going to start in the USA with their SEC and ETF and everything?
Discuss.

i dont think that adoption will start from poor countries. because poor countries do not have enough opportunity to check learn and use the blockchain technology. I think the first adoptions will be started from developped countries.

Innovators are pretty scattered through out the world  so I guess the idea that adoption starts only in rich country is a moot.  To better see things towards adoption, we need to know the stages of adoption.  In this article it clearly defines the techological adoption stages :
https://ondigitalmarketing.com/learn/odm/foundations/5-customer-segments-technology-adoption/
A better look at it in slide form:
https://www.slideshare.net/jsc5225/technology-adoption-lifecycle

[samputin]

Retrieved from unblock.news

That's the statement of Coinbase CEO, Brian Armstrong, when asked by one of his Twitter follower on how mass adoption can happen.
The three factors as seen on the image are explained, as follows:
•Scalability - The problem here, according to Armstrong, is the amount of transaction it can handle at present. Crypto can only process 5 to 10 transactions per second, compared to Visa which can hold 500 to 5,000 transactions per second. But there are experts who are already making their way to come up with a solution. One of which is Lightning Company.
•Usability - Cryptocurrency still need lots of adjustment and his advice is to male transactions in crypto simpler than others.
•Volatility - We are all aware of this one. And this hindrances people to completely indulge in crypto. If crypto is the currency of the future, then its volatility must be reduced.
Source: Abbey Despabiladeras, www.unblock.news/popular/improved-scalability-usability-and-volatility-key-to-mass-adoption-says-armstrong

[maianh09]

There will be a point when bitcoin is so widely used that places like Amazon and Ebay will be forced to accept it or they will lose out on a lot of potential customers.  The biggest obstacle to full adoption is scalability but hopefully lightning network will be able to put those fears to rest.

If Ebay and Amazon accept it as a payment currency this makes the number of Bitcoin users increase. But the Bitcoin system will become overloaded because of the large number of transactions. I hope to have a company that extends internal payment support services associated with these online buying and selling websites. But what we need right now is Bitcoin through ETF.

[serjent05]

.If Ebay and Amazon accept it as a payment currency this makes the number of Bitcoin users increase. But the Bitcoin system will become overloaded because of the large number of transactions. I hope to have a company that extends internal payment support services associated with these online buying and selling websites. But what we need right now is Bitcoin through ETF.

There is a possibility for Ebay and Amazon to accept cryptocurrency, since a company from Japan, Rakuten, had started accepting registrants for its new cryptocurrency exchange.

Amazon rival Rakuten, a Japan-based online retailer which has been expanding around the world in recent years, has begun accepting registrations for its new bitcoin and cryptocurrency exchange, Rakuten Wallet—with bitcoin and cryptocurrency investors hoping other technology companies, such as U.S. online retail giant Amazon, will follow suit.

https://www.forbes.com/sites/billybambrough/2019/04/18/amazon-rival-rakuten-is-jumping-into-bitcoin-and-crypto-is-amazon-next/#6e9d5aa99442

If Amazon sees that Rakuten is doing well with its new venture with cryptocurrency, then there is no doubt they will think to follow them.

[Virtual miner]

Is it going to start with poor countries and their dictators?
Is it going to start in the USA with their SEC and ETF and everything?
Discuss.

It is only going to start if major countries start adopting it as mainstream currency and legalize it or regulate it. Only then these people will start to use it and following the same culture many small countries will come forward to use crypto as payment means and only then we can come to the mass adoption phase. Because things that start from small countries don't generally last long.

[Choyor]

When a country's government does not fully recognize and support the existence of Bitcoin, then it will limit everyone to use this technology, therefore the mass adoption of Bitcoin will start from countries that fully support the existence of this digital currency technology, because this will facilitate the use of Bitcoin in the country.

[salmanahmedone]

Is it going to start with poor countries and their dictators?
Is it going to start in the USA with their SEC and ETF and everything?
Discuss.

In my opinion, anyone can adopt it and I strongly agree that poor countries will convert it because they can make these countries better than before.
And maybe the SEC and ETF will start in the US or take a long time. moreover, we have used technology, maybe we will be faster than the US.

Few countries have already adapted bitcoins and many are in the process of doing so. Those countries who do not make legalize bitcoin will remain backwards as the future is of bitcoins.

[MakeMoneyBtc]

There will be a point when bitcoin is so widely used that places like Amazon and Ebay will be forced to accept it or they will lose out on a lot of potential customers.  The biggest obstacle to full adoption is scalability but hopefully lightning network will be able to put those fears to rest.

If Ebay and Amazon accept it as a payment currency this makes the number of Bitcoin users increase. But the Bitcoin system will become overloaded because of the large number of transactions. I hope to have a company that extends internal payment support services associated with these online buying and selling websites. But what we need right now is Bitcoin through ETF.

That's probably one of the reasons why Ebay and Amazon didn't already accepted bitcoin as a payment method. I am sure someone is working to solve this problem, most recently with Lightning Network so we shall have see this big companies like Amazon accepting bitcoin in the next coming years.